There is demand holding below price and we have minor support showing up under price, I would only be long till the level at .7625 falls. The expectation is price will continue to fall and make a new swing low. The possibility is price can continue to build on the minor support and challenge the targets above price
Swings are falling, expecting price to make a lower low, however all we have right now is price is at a stop in the swing area and we have stops above present price. Price so far has not built supply above it in the way of engulfers or crossed below one of the stops on its climb up. Next week should clear the picture alittle more
This is the third part of the US Dollar looking at price action. My friend told me that there are so many moving parts in price action it makes near impossible for retailers to win - I believe this. So what are the moving parts. In the first two charts I looked at swings and zones and why price moves with them and placed rules on the swings. These series of 4...
The expectation is price will break swing low - the possibility is if price can break above the mild trend pushing it down into the stops price may challenge the last high then the swing high. However swing lows continue to be broken and the expectation is price will continue to fall.
This is a continuation of the larger TF US Dollar I published. Even though the concepts remain the same in price mechanisms, price action is multifaceted and hard to explain in a chart frame or two. Along with the component of price mechanisms is the component of how we view price and how we respond to it. How we respond to price action should always be rule...